What is a money line in a sports betting event?
When sports bettors place a money line bet, they are betting on the outright winner of the event, regardless of point spread. Moneyline betting odds are posted on Major League Baseball, NFL and the rest of the 5 popular sportsbooks at most sportsbooks in Las Vegas and online. There are still favorites and underdogs, but instead of being disadvantaged or aided by early advantages or what are called point spreads, competitors are given odds of winning the game or event.
Let’s look at an NFL game where the New Orleans Saints are favorites against the Atlanta Falcons. The odds might look like this:
Saints -150
Falcons +130
If you bet on the Saints, you will have to risk $150 to win $100 (or any other variation like $75 to win $50 or $300 to win $200). However, if you bet on the Falcons, you can win $130 for every $100 you wager. If the final game score is tied, the bet will be graded ‘Push’ and your money will be refunded.
Commission ranges from $5 per $100 wagered to $20 per $100 wagered on money line bets. It may even be higher if there is a wide price range between the betting favorite and the underdog. Bettors should always refer to the published terms and conditions of sportsbooks to find the cut-off points on a 10 or 20 cent line before an additional commission is added. A Las Vegas sports bettor may see a heavy favorite priced on the money line at -450 with a return ranging from +375 to +350 on the losing bets. The best practice followed by professional sports bettors is to look for the best odds and payouts for your betting side at online or Las Vegas sportsbooks. Las Vegas and online sportsbooks use very clever terms to describe their commission rate. To describe their commission, sportsbooks often describe it as a 10 cent or 20 cent line. Pennies sound cheap and are made to keep the rake rate irrelevant in the mind of a novice punter. Actually, 10 or 20 cents is the rake rate on a single $1 bet. A bettor who places a $100 bet on a game on a 10 cent line is playing on a $10 line or if he is at an establishment that charges a 20 cent line he is betting on a $20 line. Sports bettors can calculate the commission from sportsbooks by looking at the current prices of the favorites and underdogs. Here is an example of betting on a Major League Baseball 10 cent line:
Los Angeles Dodgers +120
New York Mets -130
If it had been a 20 cent line, the difference would look like this:
Los Angeles Dodgers +115
New York Mets -135
As you can see from the 20 cent model, the underdog gets a lower return on his $100 bet, while the favorite bettor must put up an additional $5 for every $100 returned on a winning bet. Over time this can add up for the professional bettor and that is why a sports betting radio show listener will often hear the professional harp over and over again about how important it is to buy the best number and bet in Las Vegas or in the online sports betting houses that offer. the sports bettor has the best odds and charges the least amount of commission. One of the best practices that professionals follow is to keep track of the current odds of online or Las Vegas sportsbooks on the internet and not get caught playing a bad number at a bad price. Technology has had an impact on the industry as portable internet devices have come into the hands of professional gamblers. The popular Apple IPhone and Verizon Storm allow users to surf the Internet at high speeds while traveling to Las Vegas sportsbooks to place bets. Since Las Vegas casinos are spread throughout the city, the pros will follow the live odds and place their bets on the spot, giving the pro player the best value.